Difference between revisions of "Group of Twenty"
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The '''Group of Twenty Finance Ministers and Central Bank Governors''' (also known as the "G-20") is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. | The '''Group of Twenty Finance Ministers and Central Bank Governors''' (also known as the "G-20") is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. | ||
| − | The inaugural meeting of the G-20 took place in Berlin, on December | + | The inaugural meeting of the G-20 took place in Berlin, on 15-16 December, 1999, hosted by the German and Canadian finance ministers. It was created in response to the financial crises which occurred towards the end of the 1990s. In addition, it offered a platform for the largest emerging-market economies, which had previously been excluded from forums such as the [[G-8]]. |
==Membership== | ==Membership== | ||
Revision as of 15:13, April 2, 2009
The Group of Twenty Finance Ministers and Central Bank Governors (also known as the "G-20") is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability.
The inaugural meeting of the G-20 took place in Berlin, on 15-16 December, 1999, hosted by the German and Canadian finance ministers. It was created in response to the financial crises which occurred towards the end of the 1990s. In addition, it offered a platform for the largest emerging-market economies, which had previously been excluded from forums such as the G-8.
Membership
The G-20 comprises the Finance Ministers and Central Bank Governors of 19 countries, as well as the European Union, which is represented by whichever country holds the rotating Council presidency and the European Central Bank.
In addition, meetings are attended, on an ex-officio basis, by the Managing Director of the International Monetary Fund (IMF) and the President of the World Bank, as well as the chairs of the International Monetary and Financial Committee and Development Committee of the IMF and World Bank.
There have also been two heads-of-government meetings of the G-20, in November 2008 and April 2009.
Member countries
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States of America, and the European Union.
